M&G Europe raises beta

M&G European Smaller Companies fund manager Giles Worthington is looking to increase the £75m fund's beta in order to benefit from any improvement in market conditions. An uptick in investors' appetite for beta has underpinned the European smaller companies sector's strong recent performance. After a difficult three years that have seen portfolios halve in size on average, the sector has been the best performing regional asset class over the three months to 9 June, returning 23.8% on average before charges. Worthington's portfolio has posted growth of 23% over the same period and whil...